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Consolidation subsequent to date of acquisition-Equity method with noncontrolling interest, AAP, and upstream intercompany inventory sale subsidiarys Stockholders Equity on the acquisition date. The parent
Consolidation subsequent to date of acquisition-Equity method with noncontrolling interest, AAP, and upstream intercompany inventory sale subsidiarys Stockholders Equity on the acquisition date. The parent assigned the excess to the following [A] assets: the controlled group. You have compiled the following data as of 2021 and 2022 : \begin{tabular}{|l|r|r|} \hline & \multicolumn{1}{|c|}{2021} & 2022 \\ \hline Trartsfer price for inventory sale & $475,000 & $570,000 \\ \hline Cost of goods sold & (399,000) & (427,500) \\ \hline Gross prafit & $76,000 & $142,500 \\ \hline Winventary remaining & 35% & 25% \\ \hline Grpss profit deferred & $26,600 & $35,625 \\ \hline EOY recelvablelpayable & $76,000 & $133,000 \\ \hline \end{tabular} the subsidiary report the following pre-consolidation financial statements at December 31,2022 : a. Disaggregate and document the activity for the 100SAcquisitionAccountingPremium(MAP),thecontroilinginterestAAPandthenoncontrollinginterestAAP.(Completeforthefirst four years only.) b. Calculate and organize the profits and losses on intercompany transactions and balances. c. Compute the pre-consolidation Equity investment account beginning and ending balances starting with the stockhoiders' equity of the subsidiary. Use a negative sign with your answer to indicate a reduction to net income. c. Compute the pre-consolidation Equity investment account beginning and ending balances starting with the stockholders' equity of the subsidiary. Use a negative sign with your answer to indicate a reduction to net income. d. Reconstruct the activity in the parent's pre-consolidation Equity Investment T-account for the year of consolidation. e. Independently compute the owners' equity attributable to the noncontrolling interest beginning and ending balances starting with the owners' equity of the subsidiar Use a negative sign with your answer to indicate a reduction to net income. Use a negative sign with your answer to indicate a reduction to net income. f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Use a negative sign wich your answer to indicate a reduction to net income. f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Use a negative sign with your answer to indicate a reduction to net income. g. Complete the consolidating entries according to the C-E-A-D-I sequence. Consolidation subsequent to date of acquisition-Equity method with noncontrolling interest, AAP, and upstream intercompany inventory sale subsidiarys Stockholders Equity on the acquisition date. The parent assigned the excess to the following [A] assets: the controlled group. You have compiled the following data as of 2021 and 2022 : \begin{tabular}{|l|r|r|} \hline & \multicolumn{1}{|c|}{2021} & 2022 \\ \hline Trartsfer price for inventory sale & $475,000 & $570,000 \\ \hline Cost of goods sold & (399,000) & (427,500) \\ \hline Gross prafit & $76,000 & $142,500 \\ \hline Winventary remaining & 35% & 25% \\ \hline Grpss profit deferred & $26,600 & $35,625 \\ \hline EOY recelvablelpayable & $76,000 & $133,000 \\ \hline \end{tabular} the subsidiary report the following pre-consolidation financial statements at December 31,2022 : a. Disaggregate and document the activity for the 100SAcquisitionAccountingPremium(MAP),thecontroilinginterestAAPandthenoncontrollinginterestAAP.(Completeforthefirst four years only.) b. Calculate and organize the profits and losses on intercompany transactions and balances. c. Compute the pre-consolidation Equity investment account beginning and ending balances starting with the stockhoiders' equity of the subsidiary. Use a negative sign with your answer to indicate a reduction to net income. c. Compute the pre-consolidation Equity investment account beginning and ending balances starting with the stockholders' equity of the subsidiary. Use a negative sign with your answer to indicate a reduction to net income. d. Reconstruct the activity in the parent's pre-consolidation Equity Investment T-account for the year of consolidation. e. Independently compute the owners' equity attributable to the noncontrolling interest beginning and ending balances starting with the owners' equity of the subsidiar Use a negative sign with your answer to indicate a reduction to net income. Use a negative sign with your answer to indicate a reduction to net income. f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Use a negative sign wich your answer to indicate a reduction to net income. f. Independently calculate consolidated net income, controlling interest net income and noncontrolling interest net income. Use a negative sign with your answer to indicate a reduction to net income. g. Complete the consolidating entries according to the C-E-A-D-I sequence
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